:

Business/Financial

L3Harris Posts Lower Earnings, Higher Sales In Second Quarter; Introduces Guidance

By Cal Biesecker

Wednesday, July 31st, 2019

SHARE:

L3Harris Posts Lower Earnings, Higher Sales In Second Quarter; Introduces Guidance

L3Harris Technologies Chairman and CEO William Brown. Photo: L3Harris Technologies

Reporting for the first time since the close of Harris Corp.’s acquisition of L3 Technologies in late June, L3Harris Technologies [LHX] on Wednesday posted unaudited second quarter financial results with net income down due to merger and integration costs and sales up. Unaudited net income fell 19 percent to $482 million, $2.12 earnings per share (EPS), from $592 million ($1.75 EPS), due to merger and integration costs associated with the Harris deal for L3. Excluding these costs, adjusted operating income…

Budget

Hegseth Pushes For Reconciliation With At Least $350 Billion For Defense ‘Regardless’ Of Midterms Outcome

Defense Secretary Pete Hegseth said Wednesday the Trump administration plans to continue its push for at least $350 billion in defense funds via the reconciliation process “regardless of what happens […]

Congress

Bipartisan Push in Senate to Hasten Export of 155 mm, GMLRS, HIMARS for Ukraine

A small, bipartisan group of senators is backing the Fast Tracking European Investment in Ukraine’s Defense Act, S. 5175, to hasten the export of allied buys of U.S. munitions for […]

Congress

Rep. Himes Signals Increased Contractor Oversight, if Democrats Win House

Rep. Jim Himes (D-Conn.), the ranking member of the House Permanent Select Committee on Intelligence, plans to increase the committee’s contractor oversight if the Democrats win control of the House […]

Congress

CBO Estimates Loss of One-Half to Two-Thirds of U.S. Missile Interceptors Since June Last Year

A new Congressional Budget Office report estimates the cost of the Iran war through Aug. 1 as $38 billion and says that the U.S. has likely depleted between one-half and […]